After languishing available on the market for greater than a decade, the basketball legend’s Highland Park, Illinois, property is now a timeshare, with co-ownership starting at $1 million, plus 2 % annual bills.
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Michael Jordan’s legendary Chicago-area mansion discovered a purchaser in late 2024 after greater than a decade available on the market. Now, the property, dubbed Champions Level, is providing co-ownership alternatives, based on a assertion.
The property, situated at 2700 Level Drive in Highland Park, Illinois, is now providing restricted co-ownership, with bidding beginning at $1 million, plus 2 % of annual bills, estimated at $25,000 per co-owner. Shares are restricted to at least one per purchaser, although people could bid on a number of weeks.
“It’s an opportunity to own a piece of history and bring sports enthusiasts together through a unique co-ownership model,” Cooper mentioned in an announcement.
Chicago-area actual property investor John Cooper bought the 32,000-square-foot property on Dec. 10 for $9.5 million, considerably beneath its unique 2012 itemizing value of $29 million, Mansion World reported Friday.
Constructed by Jordan in 1994, Champions Level spans 7.39 acres, and consists of 9 bedrooms and 15 loos, accommodating as much as 20 visitors.
The property boasts a gated entrance with Jordan’s quantity 23, a regulation-sized basketball court docket, a round infinity pool and a trophy room. Different standout facilities embrace a tennis court docket, luxurious residence theater and a cigar lounge outfitted with customized leather-based poker tables.
Co-owners can use the property to host occasions, together with weddings, sports activities watch events and charity galas, although further charges could apply. Luxurious add-ons corresponding to personal cooks, pre-arranged meals and on-site leisure additionally come at an additional value.
“Our goal is to create a shared experience where co-owners can enjoy unparalleled amenities and also the sense of connection and community that comes with it. By preserving the property’s original design while integrating modern technology, we’re ensuring that Champions Point continues to be a place where extraordinary memories are made for years to come,” based on an announcement.
To additional protect the property, the property enforces strict privateness measures. Whereas potential patrons had been initially required to signal a nondisclosure settlement (NDA), the identical requirement now applies to co-owners.
Co-owners and their visitors could take photographs and movies of the property, however these actions will likely be topic to restrictions will likely be enforced.
Moreover, co-owners can have the choice to promote their shares sooner or later.
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